Hormel Foods Corporation (NYSE:HRL) – KeyCorp issued their Q1 2018 earnings estimates for shares of Hormel Foods Corporation in a research note issued to investors on Monday. KeyCorp analyst D. Carlson forecasts that the company will post earnings of $0.45 per share for the quarter. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Hormel Foods Corporation’s Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.37 EPS and Q4 2018 earnings at $0.43 EPS.

HRL has been the topic of several other reports. BMO Capital Markets reissued an “outperform” rating and issued a $38.00 price target (down from $45.00) on shares of Hormel Foods Corporation in a research note on Friday, August 25th. Mizuho reissued a “hold” rating and issued a $33.00 price target on shares of Hormel Foods Corporation in a research note on Wednesday, October 4th. Barclays PLC decreased their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, August 25th. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Finally, BidaskClub downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.50.

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Hormel Foods Corporation (NYSE:HRL) last posted its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Hormel Foods Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 31,046,698 shares of the company’s stock valued at $1,059,004,000 after acquiring an additional 777,942 shares during the last quarter. State Street Corp increased its position in shares of Hormel Foods Corporation by 0.4% during the second quarter. State Street Corp now owns 30,226,307 shares of the company’s stock valued at $1,031,019,000 after acquiring an additional 132,262 shares during the last quarter. BlackRock Inc. increased its position in shares of Hormel Foods Corporation by 2.3% during the second quarter. BlackRock Inc. now owns 19,429,152 shares of the company’s stock valued at $662,728,000 after acquiring an additional 437,716 shares during the last quarter. Capital International Investors increased its position in shares of Hormel Foods Corporation by 16.8% during the second quarter. Capital International Investors now owns 8,284,975 shares of the company’s stock valued at $282,600,000 after acquiring an additional 1,191,000 shares during the last quarter. Finally, APG Asset Management N.V. increased its position in shares of Hormel Foods Corporation by 3.3% during the second quarter. APG Asset Management N.V. now owns 5,165,938 shares of the company’s stock valued at $176,210,000 after acquiring an additional 162,900 shares during the last quarter. Institutional investors and hedge funds own 38.06% of the company’s stock.

In other Hormel Foods Corporation news, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the completion of the sale, the vice president now directly owns 60,000 shares in the company, valued at $1,852,200. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total transaction of $480,000.00. Following the sale, the insider now owns 26,838 shares of the company’s stock, valued at $858,816. The disclosure for this sale can be found here. Insiders have sold 194,518 shares of company stock worth $6,132,366 over the last ninety days. 3.54% of the stock is owned by insiders.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.98%.

About Hormel Foods Corporation

Earnings History and Estimates for Hormel Foods Corporation (NYSE:HRL)

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